Friday 22 July 2016 13:07, UK
Arsenal will only spend money when they deem it necessary as chief executive Ivan Gazidis believes the club already have a squad good enough to win the Premier League.
The Gunners finished a distant second to champions Leicester City last season, despite sitting top of the table at the turn of the year.
Arsene Wenger has failed to deliver the title to the club since the memorable unbeaten 2003/04 campaign with their rivals consistently outspending them since, but Gazidis has warned Arsenal fans not to expect an influx of expensive recruits this summer.
"This approach, for us, gives us a very, very powerful balance because it's not just about spending money but about how you spend your money and doing it wisely," Gazidis told ESPN.
"It's about having a strong core philosophy and values within the club that players buy into and our fans can be proud of.
"These are all things that lead to success, and when you look at Arsenal over the last four or five years, there's no question that the squad has been progressing in strength.
"We've got a squad now that we believe is capable of competing to win the Premier League. We came in second last year, which was disappointing. But we're on the right track."
Arsenal now have the financial muscle to compete for the biggest names following years of being beaten to the punch as they continued to pay off their move to the Emirates Stadium.
However, Gazidis insists they will continue with their policy of believing in their young talent and do not operate to a model that would see them match the money being spent by rivals with wealthy backers.
"We're making progress in what is a fiercely competitive world, against competitors that have the capability to spend far more money than we do," he said.
"We're doing it by being very, very disciplined; spending money where we believe it makes a difference, but also giving young players a chance and believing in ourselves and our values."
Granit Xhaka has been the most notable arrival at the Emirates this summer, with Arsenal also signing young Japan striker Takuma Asano and having a bid accepted for Bolton's Rob Holding.
